Vietnam Targets 10 Percent GDP Growth for 2027

Prime Minister Pham Minh Hung announced that Vietnam is targeting a GDP growth rate of at least 10 percent for 2027. To reach this double-digit goal, the government will lower lending rates, direct credit toward production and exports, and prioritize major infrastructure projects, including Long Thanh International Airport and the North-South high-speed railway.

The government aims to increase exports by 15 percent and maintain inflation around 4.5 percent. To mitigate trade risks, Vietnam is negotiating with the United States to avoid tariffs by pledging to purchase more aircraft, liquefied natural gas, and high-tech goods. President To Lam stated the country is close to finalizing a trade deal with the United States.

Despite averaging 9 percent growth in the first three quarters of 2026, officials warn of instability. September inflation reached 5.08 percent, and the war in Iran has caused energy shocks. Phan Van Mai, head of parliament's economic committee, noted that the target "reflects a strong determination of the government" but poses significant challenges due to inflationary pressures and increasing demand for capital and energy.

Other 2027 priorities include hosting APEC Year and transitioning English to a second language in schools.